At a meeting of the Price Management Steering Committee on August 5, MoF Deputy Minister Le Tan Can noted that market prices have generally fluctuated according to seasonal patterns since the beginning of the year. Prices rose sharply early in the year due to the Lunar New Year (Tet) period, then declined in March following the post-Tet trend.

In the second quarter, the CPI saw slight increases in April and May, ranging from 0.07% to 0.16%, followed by a sharper rise in June, up 0.48% compared to the previous month. This was mainly due to higher prices of certain construction materials as well as increases in fuel prices in line with global energy market fluctuations.

The 3.2% - 3.3% CPI rise is considered appropriate to support economic growth, especially in the context of concentrated efforts to maximise economic performance, said Can, adding Vietnam’s inflation is being kept within the target range of 4.5%–5% as set by the National Assembly and Government, contributing to macroeconomic stability.

Looking ahead, price pressures in the remaining months may stem from rising costs of raw materials, food, beverages, clothing, and increasingly severe climate events. However, several factors are expected to help curb inflation, including abundant domestic food supply, tuition exemptions, textbook price cuts of 5–20%, and tax reduction policies.

International organisations recently forecast Vietnam’s average inflation rate for the year to range between 2.9% and 4.2%. The MoF noted that to retain CPI within the 4.5–5% target set by the National Assembly, the remaining monthly CPI increases must be kept within a range of 1.19–1.58%.

Concluding the meeting, Deputy Prime Minister Ho Duc Phoc emphasised that price and inflation control is crucial to ensuring sustainable economic growth. He urged ministries, sectors, and localities to strengthen monitoring of essential goods such as fuel, electricity, rice, and meat, and to strictly handle any unreasonable price hikes that destabilise the market.

He also requested that the Ministry of Construction, and the Ministry of Agriculture and Environment work closely with localities to ensure healthy and transparent real estate market operations.

CPI climbs over 3.3% in second quarter

Vietnam’s consumer price index (CPI) increased by 3.31% in the second quarter of 2025 as compared with the same period last year, Director General of the National Statistics Office Nguyen Thi Huong said on July 5.